"The trade surplus increased quite significantly owing to a decrease in imports in October 2020," Setianto, the BPS deputy head, stated during a virtual press conference here on Monday.
The trade surplus in September 2020 was recorded at US$2.39 billion.
The country's exports in October 2020 were valued at US$14.39 billion, a rise of 3.09 percent from that recorded in September 2020 and declined by 3.29 percent from that in October 2019.
The non-oil and gas exports in October 2020 reached US$13.76 billion, increasing 3.54 percent as compared to September 2020, or a decrease of 1.84 percent from that in October 2019.
Cumulatively, the value of Indonesia's exports from January to October 2020 had reached US$131.54 billion, or down by 5.58 percent over the corresponding period in 2019. Similarly, non-oil and gas exports were valued at US$125 billion, or a 3.62-percent drop.
Indonesia's imports in October 2020 reached US$10.78 billion, or plunging by 6.79 percent as compared to 26.93 percent in September 2020. Similarly, as compared to October 2019, the figure decreased.
Non-oil and gas imports in October stood at US$9.70 billion this year, down 6.65 percent as compared to that in the previous month, or a decrease of 25.36 percent from that recorded in the corresponding period in 2019.
Oil and gas imports in October 2020 were valued at US$1.08 billion, or falling by 8.03 percent as compared to September 2020, or down by 38.54 percent from that in October last year.
The largest drop in non-oil and gas imports in October 2020 as compared to that in the previous month was recorded in electrical equipment and machinery products, reaching US$200.9 million, or 11.90 percent, while the largest increase was clocked in the imports of ore, slag, and metal ash, valued at US$36.5 million, or 74.28 percent.
Thus, Indonesia's trade balance during the January-October 2020 period recorded a surplus of US$17.07 billion, with an export value of US$131.53 billion and imports at US$114.46 billion. Related news: Minister upbeat about Indonesia benefiting from RCEP spillover effect
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Translator: Sella PG, Fardah
Editor: Rahmad Nasution
Copyright © ANTARA 2020
